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Archived: Applying for Chase Credit Cards- May 2015- Jan 2017

Archived: Applying for Chase Credit Cards- May 2015- Jan 2017

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Old Jan 22, 17, 10:20 am   -   Wikipost
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Old Oct 3, 16, 10:19 am
  #4936  
 
Join Date: Jul 2013
Posts: 1,784
Originally Posted by beltway View Post
You find this advice undesirable because you're positing a false dichotomy. The choice is not between
  • slash all your CLs to the minimum, or
  • keep all your CLs as they are

As explained in detail in the wiki, many people have found it useful to trim some credit from existing CLs, so as to create headroom in one's total CL. But you're not supposed to slash it all to the bone; rather, the advice is to leave a sufficient cushion of excess credit ($5K-10K) in case you have to fall back on a recon call/reallocation request.
+1

Originally Posted by roundtree View Post
I don't dispute the likelihood of denial when near or at the top of what Chase considers it's maximum exposure to an individual. Given the difference in each person's financial circumstances, it's hardly fair to suggest that Chase "frequently" maxes out their credit exposure. I think this is viewing things from within the FT/churning bubble and things are not quite so frequent in the real world. The DP offered here are a pretty small sample size in the grand scheme of things, but I digress.

I don't doubt that avoiding recon is preferable for churning, but that's hardly a reason to make avoiding recon the default position for anyone applying for a new Chase card. Yes, reps can be unhelpful, as I clearly acknowledged. But they are not all so disposed, even with the alleged tightening over the last two years. If one wants to churn, it may make sense to follow the steps outlined in the wiki. I would never do that, because I'm not churning (hence my advice earlier).

This is reductio ad absurdum, as I never suggested that the wiki approach involved slashing CLs to the minimum. I find the auto-approval advice undesirable because no one has a guarantee that Chase will ever, in the future, give that line back when applying for a new card.

That's fair enough advice, but I still don't think that's a blanket policy to which everyone should adhere. Perhaps I'm naive, but not everyone here is churning and I can't see a non-churner deciding that giving back a portion of a CL is good for their credit. I don't and I won't ever take such advice. I continue to find it dangerous to do so, just as I find the practice of churning dangerous. If I'm offbase, then so be it. That doesn't mean I don't understand the wisdom of the wiki approach, but I do not value it.
This whole discussion began when the OP reported their app being denied because of their total Chase CL being too high, and then having to call Recon to transfer credit, leading to an easy approval. The most logical assumption is that had they proactively lowered their CL before applying, they quite probably would have been automatically (not necessarily immediately) approved.

Furthermore, there is no harm done to one's credit by reducing one's CL. Chase routinely gives me a $25K CL on virtually every new card. I do the min spnd, and then reduce the CL to @$5K. My average CR between the 3 major bureaus is 800.

I keep one Chase card at $15K, just in case I ever need to move CL at Recon. Before reducing my CLs I used to have to call Recon and move CL on every app. Since doing this I haven't had to do that even once.

Naturally, if one has very large monthly expenses, they will need to keep some of their CLs higher to cover that. I don't, so I don't.

My advice isn't just for "churners" at all. It's for anyone who wants to get several Chase cards. To me churning means to get specific cards over and over so as to get the sign up bonus over and over. If you find doing that dangerous, fine, but it's a very common approach here on FT, and your "dangerous" idea is very uncommon. Many of us have been churning cards, doing it thoughtfully, carefully, and strategically for years. My Experian report has my "accounts" at 85. Yet my Chase Hyatt app was just auto approved (after about a 6 day wait, but without calling anyone) in mid August.

For the very rare FT member who has a 7 figure income, reducing CLs may not be necessary. But anyone with a low to mid 6 figure income, who is getting $25K CLs with each card, will quickly hit a CL limit that Chase will not go beyond. Calling Chase Recon is frequently problematic in itself. And calling Recon to move CL for a new app works sometimes, and other times it doesn't. There are multiple DPs on this thread of CSRs simply refusing to do it. No one knows the rules for that. It's a YMMV situation, so why chance it?

And the "credit utilization" argument is totally fallacious. Just pay off all of your charges before the statement posts, and you CLU will be 1%, regardless of your CL. It's only important to keep your CL high enough that you won't charge more than that amount in any given billing period.

I've got cards that I charge a few hundred $s on every month with a CL of one or two thousand dollars. And cards that I charge $2K or $3k a month with CLs of $5K. I pay off all my charges before the statements post, and Credit Karma says my utilization is 1%.
RobertHanson is offline  
Old Oct 3, 16, 7:18 pm
  #4937  
 
Join Date: Sep 2016
Programs: Chase Sapphire Preferred
Posts: 2
So I am trying to decide what sort of card to apply for. My history:
I have been an authorized user on a CSP with a $33k CL and 4 years of on time payments, Credit Karma score around 750-770, and no real negative marks in history.
I am 22 and currently in my first job, but only until November (campaign related).

How will the limited income history and only being an authorized user affect my chances of getting a card? Looking at CSR, CSP, and Freedom/FU. I would really appreciate this, as it will be first card I apply for on my own, but want to get right into the points game. Thanks.
gaudym00se34 is offline  
Old Oct 3, 16, 11:11 pm
  #4938  
 
Join Date: Jan 2016
Posts: 123
Thanks guys! Good info/points made by all...
purdue1015 is offline  
Old Oct 4, 16, 10:03 am
  #4939  
 
Join Date: Jul 2013
Posts: 1,784
Originally Posted by gaudym00se34 View Post
So I am trying to decide what sort of card to apply for. My history:
I have been an authorized user on a CSP with a $33k CL and 4 years of on time payments, Credit Karma score around 750-770, and no real negative marks in history.
I am 22 and currently in my first job, but only until November (campaign related).

How will the limited income history and only being an authorized user affect my chances of getting a card? Looking at CSR, CSP, and Freedom/FU. I would really appreciate this, as it will be first card I apply for on my own, but want to get right into the points game. Thanks.
Having been an AU will certainly help your case, but probably not enough to get a CSR. I'd go for something small, say a Freedom card, to use to build your credit history with Chase. Get that, spend on it every month without going over the credit limit, then pay it off before the charges post to a statement. After 6 months or so you can start thinking about applying for a card with a more substantial credit limit.
RobertHanson is offline  
Old Oct 4, 16, 3:14 pm
  #4940  
 
Join Date: Jan 2016
Posts: 123
Hey Gang,

(All via SM) tried to PC my CSP to a CFU today. They refused that, but did PC to a CS. How long should I wait before trying to PC my CS to CFU?

Thanks!
purdue1015 is offline  
Old Oct 4, 16, 5:58 pm
  #4941  
 
Join Date: Mar 2015
Location: Wisconsin
Programs: Hilton Diamond, Delta PM
Posts: 323
Just adding an on-going data point. Applied for the Marriott Business card using the 70K offer with annual fee waived on Oct 1. I'm way over 5/24.....guessing maybe 21/24. Got the "You'll know in 7-10 days" message. Received my welcome email this evening. I already have a Chase Ink Cash for the same business (sole proprietor, fairly low biz income but 100K+ personal income).

Looking forward to combining these points with some transferred SPG points for 4 nights in Paris.
LizGross144 is offline  
Old Oct 5, 16, 4:57 pm
  #4942  
 
Join Date: Feb 2014
Posts: 35
Chase Private Client and 5/24 killed my wife's C Sap Preferred app...What happened?

Wife is like 11/24. Applied thru my CPC banker (no preapproval)...received automated letter denial. Called banker who said it was "hard denial" and nothing could be done since it went through special reconsideration. Only a Private Client for 2 months but still mystified. Anyone offer advice???

Wife is like 11/24. Applied thru my CPC banker (no preapproval)...received automated letter denial. Called banker who said it was "hard denial" and nothing could be done since it went through special reconsideration. Only a Private Client for 2 months but still mystified. Anyone offer advice???
chalucky is offline  
Old Oct 5, 16, 6:56 pm
  #4943  
 
Join Date: Aug 2015
Location: BGR/PWM/ALB
Programs: AA, BA, UA, LH, AF/KLM, SPG Gold, Hyatt Plat, Hilton Gold, IHG Plat, Marriott Gold
Posts: 29
Originally Posted by chalucky View Post
Wife is like 11/24. Applied thru my CPC banker (no preapproval)...received automated letter denial. Called banker who said it was "hard denial" and nothing could be done since it went through special reconsideration. Only a Private Client for 2 months but still mystified. Anyone offer advice???

Wife is like 11/24. Applied thru my CPC banker (no preapproval)...received automated letter denial. Called banker who said it was "hard denial" and nothing could be done since it went through special reconsideration. Only a Private Client for 2 months but still mystified. Anyone offer advice???
I've heard rumors here, on reddit, and from bloggers that CPC is no longer an automatic override of 5/24 post-CSR release. No idea how accurate this is, but based on some of the denial DPs that we've seen it makes some degree of sense.
lobstahpotts is offline  
Old Oct 5, 16, 8:56 pm
  #4944  
 
Join Date: Dec 2000
Location: Philadelphia
Posts: 1,617
Trying to confirm this for a friend who is under 5/24 and didn't see an answer when trying to search the 5k replies to this thread:

If he received his last bonus for a Chase card on 10/15/2014, can he apply again on 10/16/2016, does it go by month (i.e. November 1st is the earliest), or is there another rule to determine the exact eligibility date? Thanks!
lowfareair is offline  
Old Oct 5, 16, 9:05 pm
  #4945  
 
Join Date: Mar 2014
Posts: 24
Originally Posted by lowfareair View Post
Trying to confirm this for a friend who is under 5/24 and didn't see an answer when trying to search the 5k replies to this thread:

If he received his last bonus for a Chase card on 10/15/2014, can he apply again on 10/16/2016, does it go by month (i.e. November 1st is the earliest), or is there another rule to determine the exact eligibility date? Thanks!
November 1st. Goes by month.
geekyjeff is offline  
Old Oct 5, 16, 10:07 pm
  #4946  
 
Join Date: Jan 2016
Programs: Ink/Sapphire/Freedom/SPG
Posts: 314
Originally Posted by Ed Janowsky View Post
Which 7-10 day message did you get?

EVERYONE applying online who does not get auto-approved gets a 7-10 day message. It's the message seen on the computer screen after applying where it states that if you're approved, you'll receive your card in 7-10 days. Unfortunately this has been confused OVER AND OVER AGAIN with the 7-10 day message associated with calling the automated response line.

A 7-10 message received online immediately after applying is in no way indicative of approval or denial PERIOD.
The 7-10 message from the automated response line is the one that has the negative connotation.

Was away for a while, i received the CSR over 5/24 for sure.
But my IHL card was in pending, received a mail for address and after i sent the new address docs i shouldn't have called them but i did to find out if they received it they denied it & said i have applied 4 cards in a year and were not ready to move my credit too...something wat every1 is discussing here.They said Chase has granted too much credit & also i have too many requests for credit this year for another card.
I have no idea what to do from here, any idea if i should reduce credit & call back?
rocky_nnc is offline  
Old Oct 5, 16, 11:35 pm
  #4947  
 
Join Date: Jan 2016
Posts: 123
Originally Posted by purdue1015 View Post
Hey Gang,

(All via SM) tried to PC my CSP to a CFU today. They refused that, but did PC to a CS. How long should I wait before trying to PC my CS to CFU?

Thanks!
Just as a DP...asked to PC a CSP-CFU, was denied. Asked to PC CSP-CS-CFU, no problem. This whole process was completed within 24 hours all via SM.
purdue1015 is offline  
Old Oct 6, 16, 6:02 am
  #4948  
 
Join Date: Jan 2011
Location: ATL
Programs: DL PM, SPG Plat
Posts: 856
Originally Posted by purdue1015 View Post
Just as a DP...asked to PC a CSP-CFU, was denied. Asked to PC CSP-CS-CFU, no problem. This whole process was completed within 24 hours all via SM.
Does anyone know if product changes such as this (Sapphire Preferred to Freedom) count as a new account in the 5/24 rule?
FederalFlyer is offline  
Old Oct 6, 16, 8:32 am
  #4949  
 
Join Date: Nov 2010
Location: Traveling some where hopefully
Programs: AS, AA Gold, and Hilton
Posts: 1,954
Originally Posted by FederalFlyer View Post
Does anyone know if product changes such as this (Sapphire Preferred to Freedom) count as a new account in the 5/24 rule?
If you downgrade from the CSP card to the Freedom no. It's just considered a product change and no hard pull or 5/24.
jjmiller69 is offline  
Old Oct 6, 16, 12:09 pm
  #4950  
 
Join Date: May 2013
Posts: 136
Originally Posted by LizGross144 View Post
Just adding an on-going data point. Applied for the Marriott Business card using the 70K offer with annual fee waived on Oct 1. I'm way over 5/24.....guessing maybe 21/24. Got the "You'll know in 7-10 days" message. Received my welcome email this evening. I already have a Chase Ink Cash for the same business (sole proprietor, fairly low biz income but 100K+ personal income).
Nearly same scenario (DP) as mine although I have the other Ink and am "only" at 15/24. Applied 10/4 online with a "needs further review" message and today I checked my account and see my new Marriott Biz card.
Basically just wanted the 70,000 points to help reach one of those 7-night/miles packages without having to sacrifice too many of my hard-earned SPG points.
IDM79 is offline  

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